Joe Colton is already out? And the black Cobra Commander is the rare one? I've seen at least a dozen black ones, but not a single blue one...
The Cobra Commander figure that comes in blue is supposed to be the standard for Wave 1. I'v only seen one of the black variants and one Joe Colton. I'm sure the Colton figure will be widely available in later waves. But it looks like Hasbro did release him as a rare figure to pick up within the first Wave.
Was Joe Colton found at a retail store?
Yes I found it on the pegs at my local TRU. Only saw one Joe Colton. I have talked to other collectors in my area and they have been aware of these figures too and have told me they are supposed to be rare limited edition figures that are only being released in Wave 1. I didn't know that at the time of seeing them and I just assumed they were regular figures for the wave. Now i'm regretting it.